More layoffs at Motorola

Mobile radio and handset maker Motorola Inc. says that it will cut 4,000 more jobs in 2009. This is in addition to the 3,000 it announced last year.

Some 3000 of those lost in the new round of layoffs will be in the mobile devices business. About 1,000 jobs are tied to corporate functions and other business units.

The company said the move will save about $700 million a year starting in 2009, and totaling $1.5 billion in annual savings when combined with the previous cut.

The move is the latest in cost-cutting measures by Motorola, which has been struggling to revive its business in recent years.

Source: ARNewsline